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Evgen [1.6K]
3 years ago
10

Pina Corporation traded a used truck (cost $25,200, accumulated depreciation $22,680) for a small computer with a fair value of

$4,158. Pina also paid $630 in the transaction. Prepare the journal entry to record the exchange. (The exchange has commercial substance.)
Business
1 answer:
Anika [276]3 years ago
3 0

Answer:

Calculation of Gain or Loss:

Book Value of Truck = 25,200 - 22,680

                                  = $2,520

Gain on Exchange = 4,158 - 2,520 - 630

                               = $1,008

Therefore, the journal entry is as follows:

Accumulated Depreciation A/c Dr. $22,680

computer A/c                              Dr. $3,150

              To Truck                                            $25,200

              To Cash                                              $630

(To record the Truck)

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If the four largest firms in an industry produce 20, 10, 7, and 3 units of output, respectively, and total industry output is 10
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Answer:

40%

Explanation:

The four firm concentration ratio calculates the concentration ratio of the 4 largest firms in an industry.

Four firm concentration ratio = 0.2 + 0.1 + 0.07 + 0.03 = 0.4 = 40%

7 0
3 years ago
Mr. Jacob, who is terminally ill, writes a will transferring all his assets to his daughter Silvia, in the event of his death. T
Anit [1.1K]

Answer:

Invalid

Explanation:

Since it is stated in the will, that upon his death should the assets be transferred, it means that Silvia doesn't get anything until Mr Jacob ceases to be alive.

With the new development as regards Mr Jacob living for 6 more months before dying, Silvia has no assets yet and as such cannot transfer anything to Jacob Jnr.

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8 0
3 years ago
Marginal cost is defined as the change in ________ cost when output changes by one unit. In the short run
salantis [7]

Answer:

Marginal cost is defined as the change in <u>total </u>cost when output changes by one unit in the short run.

Explanation:

<em>Marginal cost is defined as the change in total cost when output changes by one unit. In the short run.</em>

<em>It is the amount by total cost will increase as a result of producing additional one more unit of a product.</em>

6 0
3 years ago
Read 2 more answers
Jessica's grandfather lives alone and still works. he told jessica that he is concerned about what might happen if he could no l
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Jessica's grandfather is concerned about his physical well-being.  He thinks about his health and physical health and has fears that maybe in the future he will not have the strength. The physical<span> health is connected to mental and emotional health.</span>
8 0
3 years ago
Using the continuous compounding equation, if someone invested $5,000 at an interest rate of 3.5%, and someone else invested $5,
UNO [17]

Answer:

Therefore after 16.26 unit of time, both accounts have same balance.

The both account have $8,834.43.

Explanation:

Formula for continuous compounding :

P(t)=P_0e^{rt}

P(t)=  value after t time

P_0= Initial principal

r= rate of interest annually

t=length of time.

Given that, someone invested $5,000 at an interest 3.5% and another one  invested $5,250 at an interest 3.2% .

Let after t year the both accounts have same balance.

For the first case,

P= $5,000, r=3.5%=0.035

P(t)=5000e^{0.035t}

For the second case,

P= $5,250, r=3.5%=0.032

P(t)=5250e^{0.032t}

According to the problem,

5000e^{0.035t}=5250e^{0.032t}

\Rightarrow \frac{e^{0.035t}}{e^{0.032t}}=\frac{5250}{5000}

\Rightarrow e^{0.035t-0.032t}=\frac{21}{20}

\Rightarrow e^{0.003t}=\frac{21}{20}

Taking ln both sides

\Rightarrow lne^{0.003t}=ln(\frac{21}{20})

\Rightarrow 0.003t}=ln(\frac{21}{20})

\Rightarrow t}=\frac{ln(\frac{21}{20})}{0.003}

\Rightarrow t= 16.26

Therefore after 16.26 unit of time, both accounts have same balance.

The account balance on that time is

P(16.26)=5000e^{0.035\times 16.26}

              =$8,834.43

The both account have $8,834.43.

7 0
3 years ago
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